The worry that not enough homes are being built in the United Kingdom under this Tory government is at least being assuaged a little by the consistent efforts of CALA Group, a building and construction company that has worked extremely hard to produce as many construction and property developments as
Cala Group says it is “on target” to achieve its turnover goal of £1 billion by 2020, having posted its fourth consecutive year of record results. Alan Brown, Chief Executive of the house building firm, said the group’s strategy was “to grow the business to over £1bn by 2020”. He
BDC 319 : Aug 2024
The worry that not enough homes are being built in the United Kingdom under this Tory government is at least being assuaged a little by the consistent efforts of CALA Group, a building and construction company that has worked extremely hard to produce as many construction and property developments as possible this year. Inside the doors of the Legal & General Capital sector, CALA has shown that its diligence and hard work over the year has ensured that it is able to generate even greater amounts of house building revenue and investments than it could have done without them. Through the efforts and hard work of CALA, Legal & General Capital have already been able to invest no less than £8 billion into improving the infrastructure that will help to provide more and more land development as well as employment opportunities for people all over the country. Legal & General Capital’s respected MD Paul Stamworth explains that in the three years since acquiring almost half of CALA’s equity, CALA has generated profit growth that has soared from an already impressive 35 per cent to a staggering 370 per cent in the last financial year. Their investment in CALA was clearly a wise one and CALA’s consistent good maintenance of trading and property building means that it will be in good stead to challenge the threats posed to the English economy through the exit from the European Union. Even at this moment, CALA reports that its trading results in the first few weeks of the New Year were very good, and the building company has acquired vital planning permission to work on 15 areas around the UK that will create1533 brand new properties with a development venture valued at £648 million. Additional thanks must be made to CALA now that Legal & General Capital intends to feed an extra £15 billion for other enterprises in the United Kingdom.
Cala Group says it is “on target” to achieve its turnover goal of £1 billion by 2020, having posted its fourth consecutive year of record results. Alan Brown, Chief Executive of the house building firm, said the group’s strategy was “to grow the business to over £1bn by 2020”. He said: “We have the infrastructure in place to deliver that, both the products, the people and the land.” The group posted a 15% rise in turnover in its full-year results, with group revenue of £587.1 million for the year to June 30, 2016, which was an increase from £511.6 million the previous year. Pre-tax profit also jumped by 18% to £60.1 million in its latest figures, which is up from £50.9 million over the same period. Mr Brown added that his company had seen “no impact” on the business since the EU referendum in June EU and praised Theresa May’s new government for its recent moves to boost housebuilding. Earlier in the week, Business Secretary Sajid Javid announced a £3 billion Home Builders Fund and a £2 billion ‘Accelerated Construction’ programme to accelerate the building of housing on brownfield land, which Mr Brown said he backed. He said: “Since 2010, the government has recognised we have a significant housing shortage, and that we need to do something about it. ”We’ve seen positive changes since then, and what I’m particularly pleased about is that since Theresa May became prime minister, if anything [the government]’s desire to solve the housing crisis has increased.” The group, which focuses on Southern England, the Midlands and Scotland, has increased completions by 16% in the last year, with 1,151 homes completed in the year to June 30, 2016, up from 993 the previous year. It has also added 30 sites to its portfolio in the financial year, which are projected to deliver almost 2,700 homes in the short term.
